Various methodologies have been created to help banks and credit unions review their data analytic capabilities. The jargon in the industry for this type of evaluation is often called a “maturity model.” These examinations are essentially a report card — comprised of questions that assign various values for varying levels of analytics competency.
Completing the survey is also a great way to help your bank or credit union get started implementing a data strategy to help drive improvements in marketing, streamline your customer experience and to reduce costs for marketing and service delivery.
The model below is based on the work of data gurus at IBM and MIT. In this model, there are six categories addressing the various functional areas that affect the impact the success of data analytics for your institution. The survey covers both the technology/science aspect of data analytics and management and the organization/culture/business factors that are critical to creating a successful data analytics platform.
If you have a few minutes take this self-test to see how your organization really stacks up. If you take the test and send me the score, I will send you the total results summarized by asset category and institution type. No specific scores will be shared!
Now total up the scores from yours answers in each of the six categories. Your total score doesn’t just tell you how well your organization can crunch numbers, but how effectively your institution is positioned to begin to use data analytics to drive improved growth and revenue.
Based on the total score of your responses, your bank or credit union will fall into one of the following three classifications below. The description of your category and the one to the right of it can provides you some insights into next steps for your data analytics implementation strategy.
Send me your score I will be happy to send you the survey results by bank/credit union and assets size. No individual scores will be shared or stored and no sales follow-up. Please send your score to firstname.lastname@example.org